Every single person on this planet has some kind of debt, even the ones that have no idea about it. The financial world, the consumer society, the rich people and the regular folks, all have debts. The modern capitalistic foundations are based on debt and without debt there would be no cash flow, no banks, no payments, credit cards, money, nothing of that kind. In fact, even the actual money we use to do our daily trading, buying and selling are promissory notes, some kind of obligation that the paper you are giving for goods or services is worth a certain value and that it can be accepted in free trade as such.
It is of no surprise that the origins of the use of money have gotten lost in the process, nowadays the paper money is deemed the actual valuable and the stored securities that have been kept as counterweight for such valuables are long being used for something else. Only money is being counted now and this is how you determine how much you are in debt, namely how many of the papers with digits on them you will need to provide to your creditor in order to get out of debt.
No matter how much money you have, it is never enough, otherwise the ridiculous amassing of money that some people perpetrate cannot be explained. With regular people such a state of mind is equally pronounced, so it is of no surprise that people take out loans, credit cards and mortgages, whereby very often the income cannot cope with the amount being owed.
While before people became serial consumers the numbers of people that required help with their mounting debt was miniscule, in current times these numbers are getting to be the majority of individuals. Nevertheless most of such people do manage to consolidate their debts without outside help. There are some people who are not as capable or fortunate. Since that the numbers of such unfortunate people is rising as well, plenty of charity organisations have been established that assist such debtors in getting their lives back into some kind of order.
What such companies do is to evaluate how much a debtor will be capable of paying in monthly instalments without losing the living quarters and having enough for a decent living left, and then organise all creditors to write off at least the interest and agree to receive monies through the mediator in the percentages of outstanding debts. To put it more clearly, the creditor that is owed the most, gets the most money. The mediating charity makes sure that the debtor keeps his payments on schedule and the creditors are happy that they will receive at least some money from a debtor that was deemed lost. While such agreements are being made constantly, the weakest link remains the debtor. Nevertheless, this way of consolidating a mounting debt is still the best available solution for such people in need.